ADVFN - Advanced Financial Network.
HOME» NYSE » W » WFC Stock Price » WFC Stock News

Wells Fargo Share News

 Wells Fargo & Co. (new) Stock Price
WFC Stock Price
 Wells Fargo & Co. (new) Stock Chart
WFC Stock Chart
 Wells Fargo & Co. (new) Stock News
WFC Stock News
 Wells Fargo & Co. (new) Company Information
WFC Company Information
 Wells Fargo & Co. (new) Stock Trades
WFC Stock Trades

U.S. Court Rules for Big Banks in ATM-Fee Case

WASHINGTON--A U.S. appeals court Thursday ruled in favor of major banks that charge ATM fees to cardholders who withdraw money from machines owned by other banks. The 9th U.S. Circuit Court of Appeals, ruling in a case filed in July 2004, accusing Bank of America Corp. (BAC), Wells Fargo & Co. (WFC), J.P. Morgan Chase & Co. (JPM) Citigroup Inc. (C) and other banks with fixing those fees. The court, however, found consumers who contested those fees did not have legal standing to do so. The court, in a ruling by Judge N. R. Smith, found that a fee that banks charge each other for such transactions was not directly passed on to customers. The plaintiffs in the case "concede that they have never directly paid" the fees in question, Smith wrote, in an opinion that upheld a lower court's ruling that the consumers filing the lawsuit paid the fees indirectly and did not have standing to challenge the fees. Last October several independent ATM operators and consumers sued Visa Inc. (V), MasterCard Inc. (MA), Bank of America Corp. (BAC), J.P. Morgan Chase & Co. (JPM) and Wells Fargo & Co. (WFC) in federal court over ATM fee policies. They argue that Visa and MasterCard rules requiring ATM operators to charge the same amount of fees regardless of which processing network handles a transaction has stifled competition among ATM operators and raised costs for consumers. A hearing on the defendants' motions to dismiss the suits is scheduled for September, according to court filings. Write to Alan Zibel at alan.zibel@dowjones.com

Stock News for Wells Fargo (WFC)
DateTimeHeadline
09/24/201603:03:00Wells Fargo Taps Adviser on Pay -- WSJ
09/23/201616:55:00Wells Fargo Taps Shearman & Sterling to Advise on Executive Compensation...
09/23/201616:06:43Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
09/23/201614:33:35Current Report Filing (8-k)
09/23/201613:34:00Wells Fargo & Company (WFC) Alert: Shareholder Rights Law Firm...
09/23/201612:46:15Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
09/23/201611:10:00Investor Calls for Pay Clawback at Wells Fargo
09/23/201611:02:28Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
09/23/201610:59:00Investment Group Calls for Executive Clawback, Two New Board...
09/23/201603:02:00Pressure Intensifies On CEO At Wells -- WSJ
09/22/201622:57:00Wells Fargo Donates $250,000 to Support Community Healing Efforts...
09/22/201619:09:00Pressure Mounts on Wells Fargo CEO John Stumpf--Update
09/22/201618:49:00Political Fight Over CFPB Heats Up After Wells Fargo Scandal
09/22/201618:30:00Wells Fargo CEO Steps Down From Federal Reserve Advisory Council
09/22/201618:24:00Wells Fargo CEO John Stumpf Steps Down From Federal Reserve Advisory...
09/22/201617:30:00Democratic Senators Ask for Labor Department Probe of Wells Fargo
09/22/201617:30:00Yellen to Testify on Bank Supervision on Capitol Hill Wednesday
09/22/201617:18:00Democratic Senators Ask for Labor Department Probe of Wells Fargo
09/22/201615:00:27Current Report Filing (8-k)
09/22/201614:51:09Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)

Wells Fargo and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2015 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad